Citigroup downgraded Trent to sell with the target price drastically cut to Rs 4,350 from Rs 7,150. Analysts said with the overall consumption trend remaining weak bundled with increasing competition, impact of cannibalisation and new store expansion, they expect Trent’s growth rate to moderate further. They cut the company revenue estimates, and earnings before interest, taxes, depreciation and amortization (EBIDTA) for FY26-FY28. Morgan Stanley has an overweight rating on Nykaa with the target price at Rs 271. Analysts said that in the July-Sept quarter (Q2FY26) the company’s beauty business maintained its momentum, while fashion business’s gross merchandise value (GMV) growth improved significantly. Its fashion business’s EBITDA loss narrowed, led by operating leverage on marketing spends. The company’s management was confident of maintaining the growth momentum across both businesses. Analysts said the performance of the company’s beauty business should be strong in Q3FY26, aided by Nykaaland and sales.Goldman Sachs has a neutral rating on Divis Laboratories with the target price at Rs 6,765. Analysts said its Q2FY26 revenue and EBITDA grew by 16% and 24% year-on-year (YoY), above the brokerage’s estimates, primarily driven by custom synthesis, while generics also came back to growth. Its EBITDA margin came in at 32.7% mainly on account of better product mix, higher operating leverage as well as some forex gains. The company also reiterated its double-digit growth outlook.Jefferies has a buy rating on Torrent Pharma with the target price at Rs 4,300. Analysts said that in Q2FY26, the company beat estimates, driven mainly by stronger US and Brazil sales. India continued its market beating growth which was in-line with estimates, while continued supply disruptions caused a decline in growth in business from Germany. Analysts expect India and Brazil to continue to out-perform, with an increase in ANDA filing to lead the path of sustained US growth with Germany back to normal by the March quarter.Nuvama has a hold rating on Bajaj Auto with the target price at Rs 9,700, slightly cut from Rs 9,800 earlier. Analysts said Bajaj Auto’s Q2FY26 revenue and EBITDA rose 14% and 15% YoY, in line with estimates. They forecast a 7% compounded annual growth in volume over FY25–FY28. While domestic growth is expected to rise at 2%, exports are expected to rise to 13%. They also expect Bajaj Auto’s domestic two-wheeler market share to dip from 12% in FY25 to 10% in FY28. However, the company’s exports are expected to drive growth, led by Latin America and Asia demand.Disclaimer: The opinions, analyzes and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
